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The Latest Breaking News from Treasury Department

With the GOP in control of the House, here's who's likely to lead key committees

House Republicans make up the majority in the House of Representatives for the 118th Congress. Here's a rundown of the lawmakers likely gaining power in key panels at the beginning of the new year.

WEKU

Donald Trump loses fight to avoid to handing tax returns to Congress

Donald Trump has lost his fight to prevent his tax returns being handed over to a Democrat-led congressional committee.

Evening Standard

US, Allies to Set Russia Oil Price Cap in 'Next Few Days'

Washington and its allies are planning to finalize a price cap for Russian oil in "the next few days," as they seek to cut off a critical source of funding for Moscow, the US Treasury Department said Tuesday. The price cap would be the basis for a ban set to…

Asharq Al-Awsat

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Supreme Court won’t halt release of Trump’s tax records to House committee

The House Ways and Means Committee has tried obtaining Trump's tax returns from the IRS for years.

Axios

The Loop: Cristiano Ronaldo quits Manchester United, release of Trump's taxes gets green light, and 'Teal' the Australian 'Word of the Year' — as it happened

The news Australia is searching for, and all the news that happened while you snoozed: This is The Loop, your quick catch-up for this morning's stories as they happen.

ABC News

Donald Trump loses court fight to stop his tax returns being handed over to Congress

The Supreme Court rejected Trump's plea for an order that would have prevented six years of tax returns being handed over to the Democratic-controlled House Ways and Means Committee.

Daily Mirror

Supreme Court OKs handover of Trump tax returns to Congress

The Supreme Court has cleared the way for the handover of former President Donald Trump’s tax returns to a congressional committee after a three-year legal fight

The Independent UK

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Supreme Court denies Trump bid to keep tax records from House - Roll Call

The Supreme Court cleared the way for the Ways and Means panel to get six years of former President Donald Trump’s tax returns from the IRS.

Roll Call

Sixth Circuit Concludes ARPA Condition on COVID Relief Violates Spending Clause

The U.S. Court of Appeals for the Sixth Circuit concluded some state challenges to the COVID relief bill were not justiciable, but reaches the merits in one case and finds the law lacking.

Reason

Dutch, UK fentanyl sellers hit with Treasury sanctions

Two Dutch nationals, an Englishman and nine companies have been targeted for sanctions by the U.S. government for allegedly operating an illegal fentanyl ring that generated millions of dollars in virtual currency

The Independent UK

U.S. slaps sanctions on Burmese arms dealer, company

The United States imposed sanctions on Tuesday on a Burmese arms dealer and his company for facilitating arms deals and weapons purchases on behalf of Myanmar's military, the Treasury Department said.

Reuters

U.S. sanctions South African Islamic State-affiliated firms

The U.S. has imposed its second round of sanctions in less than a week on people and firms in Africa who it says have provided financial or material support to the Islamic State group

The Independent UK

Series I bond rates decline to still-high 6.89% ⁠— here’s how to buy them

If you’re looking for an investment with a high interest rate, inflation protection and the safety of government backing, then Series I bonds could be an attractive addition to your portfolio. The Treasury Department announced that I bonds will now pay 6.89% for a full six months on any bonds…

Tribune News Service

US Sanctions Oil Smuggling Network Supporting Iran's Quds Force

The United States on Thursday imposed sanctions on an international oil smuggling network it accused of supporting Lebanon’s Hezbollah and Iran's Quds Force, as Washington seeks to increase pressure on Tehran. In a statement, the US Treasury Department said it designated members of the network that facilitated oil trades and…

Asharq Al-Awsat

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Reuters

Russian hackers account for most 2021 ransomware schemes, U.S. says

Payment-seeking software made by Russian hackers was used in three quarters of all the ransomware schemes reported to a U.S. financial crime agency in the second half of 2021, a Treasury Department analysis released on Tuesday showed.

The Independent UK

Treasury sanctions IS-Somalia weapons traffickers, al-Shabab

The Treasury Department has announced sanctions against a weapons trafficking network affiliated with the Islamic State group in Somalia and the al-Qaida-linked al-Shabab extremist group, which are accused of carrying out deadly terrorist acts on civilians including car bombings

The New Daily

Trump seeks halt to House tax data access

Former US president Donald Trump is trying to stop his tax returns from being handed to a congressional committee.

Tribune News Service

Trump asks Supreme Court to block disclosure of his tax returns

WASHINGTON — Former President Donald Trump has asked the U.S. Supreme Court to block a congressional committee from getting years of his tax returns.

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The Independent UK

Trump asks justices to keep tax returns from House committee

Former President Donald Trump is going to the Supreme Court, again, this time to try to stop his tax returns from being handed to a congressional committee

Al Jazeera

US sanctions Iran-based group that put bounty on Salman Rushdie

Treasury Department accuses the 15 Khordad Foundation of inciting violence by offering a bounty of more than $3m.

Salon

Appeals court: Release Trump's taxes

Trump could still appeal to the Supreme Court — and run out the clock before potential GOP House takeover

Benzinga

The Rate Hike Investors Actually Like Crashes The TreasuryDirect Website

Inflation hedge Series I savings bonds paying 9.62% unleashed a flood of buyers to the Treasury Department website on Wednesday, crashing the website ahead of a Friday deadline to receive the guaranteed 9.62% interest rate. What Happened: "Due to exceptionally high traffic, the TreasuryDirect website has experienced intermittent slowdowns today,"…

Roll Call

House GOP wants answers on IRS leak - Roll Call

House Ways and Means Republicans are renewing pressure on the Biden administration over a leak of taxpayer information to ProPublica.

Bangkok Post

PM confident on Apec turnout

Prime Minister Prayut Chan-o-cha said on Tuesday most of the 21 Asia-Pacific Economic Cooperation (Apec) leaders have confirmed their participation at the summit set for Nov 18-19 in Bangkok.

WEKU

Biden targets Nicaragua's gold industry in a new move against Daniel Ortega

Biden's order and other steps announced Monday are perhaps the most aggressive attempt by the U.S. to hold the Ortega accountable for his continued attacks on human rights and democracy.

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